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Sep 26, 2012 9:00am EDT
is probably that word. back to you, melissa lee. >>> let's get an update on emergency and metals. phillip is live for us from chicago. great to speak with you. let's start off with the picture in oil here. we dip below 90 for the first time since early august. which way are traders betting? i heard that as we enter quarter end, a lot of traders were actually alongwell for a long time. >> it's going to be a very tough trade for them. we've been down about 10% in the last six sessions. we're sitting right around 90 dollars. got resistance up at about 96. concerns over global growth. got saudi arabia, they're going to ramp up their production all the way until year end to try and keep those oil prices down. but the real picture is the department of energy. their inventory, if you look at at the tall stocks for the five-year seasonal average, is sitting right around 370 million barrels. that's their inventory. the five-year seasonal average is down about 325, so we're 10% over. remember last week we had a build of 8.5 million barrels. this week we're expecting a build of two million. if you s
Search Results 0 to 0 of about 1